APC reacts to Gov Obaseki’s claim that Nigeria may one day end up like Argentina
The All Progressives Congress, APC, in Edo State has lambasted Governor Godwin Obaseki over his recent comment on the state of Nigeria’s economy.
The Governor had last week said that Nigeria’s economic crisis is more critical under the present administration due to the huge amount being borrowed to service it.
Obaseki had noted that Nigerians will wake up one day to find themselves in the situation of South American country, Argentina.
However, the APC, on Monday, described Obaseki’s statement as a classic case of the Pot calling the Kettle black.
Chairman, Caretaker Committee of the APC in Edo State, Col. David Imuse, rtd, in a statement circulated to media houses on Monday, described the claim as “spurious, alarmist and untrue.
According to the APC, the Edo State economy has suffered under Governor Obaseki’s watch because of his lack of ideas about how to manage it.
The state is currently owing “a foreign debt of $300million and a domestic debt including loans from commercial banks, the capital market, and other doubtful sources, approaching N120 Billion as at March this year, for non-existent projects”! The statement said.
The party further claimed that in the past seven months, the governor has plunged the state into higher debts by taking more loans which has seen a 67 per cent increase in its debt profile.
“Edo state under Governor Obaseki has overtaken Rivers state as the state with the highest foreign and domestic debt in South-South Nigeria, and is on a steady course to displace Lagos as Nigeria’s most indebted State…” part of the statement said.
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